BitMEX Trades Record $16 Billion in One Day


On Wednesday, BitMEX, which is the world’s single biggest bitcoin derivatives provider, reported more than $1 billion of open interest on the market. Trading topped $13 billion, with the number topping $16 billion across the platform’s product range.

Volume had swiftly risen above $10 billion in previous hours, leading CEO Arthur Hayes to declare any signs of the previous cryptocurrency bear market were officially gone.

“XBTUSD perp swap open interest is now in the 3 comma club. Welcome to the 2019 bull fucking market YeeHaw!” he excitedly summarized.

BitMEX’s successes follow on from records across bitcoin trading, with bitcoin futures provider CME Group similarly reporting all-time volume highs this month and last.

While analysts remain divided over which investor segment – retail or institutional – is propelling the current bull market, Hayes is gearing up to defend the newly-bullish bitcoin against one of its arch rivals.

As Cointelegraph reported, July’s Asian Blockchain Summit will feature a showdown with academic and infamous crypto naysayer Nouriel Roubini, known as ‘Doctor Doom.’

Long a thorn in the side of many an industry business, Roubini’s ongoing Twitter rants have now become a talking point of BitMEX’s own publicity material.

“Yet, (Roubini) still believes that cryptocurrencies are a farce,” the tweet containing the trading figures added.

The event will precede another meeting with a mission, this time featuring blockchain network Tron’s CEO, Justin Sun, and many others as they try to convince Warren Buffett of crypto’s merits.